Analysis on this trade, let us share knowledge

[Akinwale Akinkunmi]

Hello so i think testing our knowledge is not a bad idea and see how good we are in trading and analysis, so i have this trade running currently that i will share the picture here and i want you to give opinions and how the trade will go. Don't get me wrong i know there are factors that may affect the trade, but i am actually doing this for us to be able to chat and discuss about the possibility.


So what do you think about it?

[hugeblack]

$MNT neat to touch longterm support trendline It may be a sign of an imminent rebound, but there is strong resistance before the 0.92 levels, so the rebound may be from 0.76 to 0.89, which is good, but there are better investment opportunities provided by the market.

[zeeMN]

That trade on the right side of the chart looks like you might be caught on the wrong side of the trade, looks like there is bearish momentum based on the lower high, lower low move and price action is printing the lower low next.

Perhaps a high time like 1hour or 4 hour will reveal more information than using the 15minute chart alone.

[electronicash]

That trade on the right side of the chart looks like you might be caught on the wrong side of the trade, looks like there is bearish momentum based on the lower high, lower low move and price action is printing the lower low next.

Perhaps a high time like 1hour or 4 hour will reveal more information than using the 15minute chart alone.

i am looking at it on the spot market in the daily chart, it somehow look like its going to bounce but in the longer time frame, its bearish also. i am not trading MNT but this one is gonna be one of the altcoins that will also be dumped if bear market begins.

interesting why OP chose this altcoin though. there really is the need for him to just stay on BTC/USDT either futures or sport. just be on BTC.

[Bobcrypto]

The chart look strange to me, though i am not familiar with it, i understand the Bollinga band chart indicator which i frequently use for all my market  analysis.
However, the biggest challenge on the uses of chart indicators is the sudden Bitcoin dumps that hinders chart indicator complete play out. Many different chart analysis should play out very well if Bitcoin maintain some stability, unfortunately most chart indicators has a slime chances of a full play out on the crypto market.
I hope to learn different charts indicators for better contributions.

[Akinwale Akinkunmi]

That trade on the right side of the chart looks like you might be caught on the wrong side of the trade, looks like there is bearish momentum based on the lower high, lower low move and price action is printing the lower low next.

Perhaps a high time like 1hour or 4 hour will reveal more information than using the 15minute chart alone.

Wow you were right it actually played out the way u predicted

[BitMaxz]

You must learn how to read pattern the one you entry is wrong honestly it gives 2 patterns the first one is double bottom pattern and bullish pennant patterns. Thats a two signals that the price may rise plus if you are using MACD indicator the selling volume is getting weaker and you should notice a sudden buy pressure after the break of bullish pennant. So meaning I got a 3 signals that it going to increase but the bad thing is your entry is wrong. I'm not professional but that's what I see.

Look at my chart below the breakout should be your entry point and SL is below the first candle in 1hr time frame. It's good for 1:2.5 ratio.



You also need to measure on the break before the next resistance if it's enough for 1:2.5 ratio but if its not enough it won't reach your target TP just like what you did according the image above. Better exit immidiately before the next resistance.

I hope you get some idea. Also make sure to learn patterns and structures and learn the breakout strategy. The easier one to learn is the bullish trend breakout and confirmations.

[Stuart]

Hello so i think testing our knowledge is not a bad idea and see how good we are in trading and analysis, so i have this trade running currently that i will share the picture here and i want you to give opinions and how the trade will go. Don't get me wrong i know there are factors that may affect the trade, but i am actually doing this for us to be able to chat and discuss about the possibility.


So what do you think about it?

Using a 15 minutes time frame might be hiding some other important things, except as a scalper. Looking at the chart, it might be in a trap if a buy order is made, cause it is not made clear yet on which direction it will go. Increase the timer can be more helpful.

[CryptoLaila]

Using a 15 minutes time frame might be hiding some other important things, except as a scalper. Looking at the chart, it might be in a trap if a buy order is made, cause it is not made clear yet on which direction it will go. Increase the timer can be more helpful.

Not except, it's called scalping so far it's used for making entry analysis unless it's use for short term speculations but it can show some clear build up sometimes (yet it could be inaccurate), but sometimes it's still okay to check out lower time frames below 1h to make trades Entry after your analysis in higher timeframes, most times is useful for re-entry if you missed one earlier, it can give a clear shot for  snipe entry

[Nheer]

Using a 15 minutes time frame might be hiding some other important things, except as a scalper. Looking at the chart, it might be in a trap if a buy order is made, cause it is not made clear yet on which direction it will go. Increase the timer can be more helpful.

Not except, it's called scalping so far it's used for making entry analysis unless it's use for short term speculations but it can show some clear build up sometimes (yet it could be inaccurate), but sometimes it's still okay to check out lower time frames below 1h to make trades Entry after your analysis in higher timeframes, most times is useful for re-entry if you missed one earlier, it can give a clear shot for  snipe entry

Checking lower time frame(LTF) before high time frame (HTF) is a good idea also but scalpers do usually take the advantage or use the LTF to enter a trade cause they won’t hold for so long just some little pips and they are off the chart. But as for a long term analysis you definitely needs the HTF before entry in a trade to hold for long and accumulate bigger pips and can also wait for the entry zone to place more entry.

[Bobcrypto]

Using a 15 minutes time frame might be hiding some other important things, except as a scalper. Looking at the chart, it might be in a trap if a buy order is made, cause it is not made clear yet on which direction it will go. Increase the timer can be more helpful.

Not except, it's called scalping so far it's used for making entry analysis unless it's use for short term speculations but it can show some clear build up sometimes (yet it could be inaccurate), but sometimes it's still okay to check out lower time frames below 1h to make trades Entry after your analysis in higher timeframes, most times is useful for re-entry if you missed one earlier, it can give a clear shot for  snipe entry

Checking lower time frame(LTF) before high time frame (HTF) is a good idea also but scalpers do usually take the advantage or use the LTF to enter a trade cause they won’t hold for so long just some little pips and they are off the chart. But as for a long term analysis you definitely needs the HTF before entry in a trade to hold for long and accumulate bigger pips and can also wait for the entry zone to place more entry.

Yes, Low Time Frame(LTF) is commonly used by scalpers, it is a strategy that enable scalpers to close their positions on a slight positive price changes within or at the end of the Day.
In facts, scalpers constantly follow the market trends to quickly take advantage of any sharp increases in the price of crypto assets to sell or close their trades.
In addition, crypto analyst, forecasters normally use the High Time Frame (HTF) to predict the market near future prices, and they may apply certain market indicators and charts for better understanding.

[Mr. Magkaisa]

      -        So far, it rose last night to 88700$ something and the price is dropping again, which seems to be consolidating at the resistance of 88700 and the support is at 85400$ so it will probably be a few days and we'll see what happens.

It seems that there has been another rejection so it looks like the move was a reversal, I'm not sure, you know the price value of bitcoin is very volatile and unpredictable. So for those who have done futures trades, make sure traders know what they are doing so they don't get liquidated immediately.

[enwi]

      -        So far, it rose last night to 88700$ something and the price is dropping again, which seems to be consolidating at the resistance of 88700 and the support is at 85400$ so it will probably be a few days and we'll see what happens.

It seems that there has been another rejection so it looks like the move was a reversal, I'm not sure, you know the price value of bitcoin is very volatile and unpredictable. So for those who have done futures trades, make sure traders know what they are doing so they don't get liquidated immediately.

This is true because seeing the price’s behaviour in the short time as it moves up and down can definitely leave anyone concerned. This is true especially for a market leading to drastic changes of price such as the Bitcoin market. To deal with fluctuations such as this one, it is more reassuring to create a plan and act in line with it. With may involve futures trading as an example, it will be wise for one to ensure that they do not fall for more losses by getting to know more on the support and resistance levels. In such circumstances, what is required is, constant waiting and updating of market information so that the courses of action which are being attempted are more specific.

[Mr. Magkaisa]

You must learn how to read pattern the one you entry is wrong honestly it gives 2 patterns the first one is double bottom pattern and bullish pennant patterns. Thats a two signals that the price may rise plus if you are using MACD indicator the selling volume is getting weaker and you should notice a sudden buy pressure after the break of bullish pennant. So meaning I got a 3 signals that it going to increase but the bad thing is your entry is wrong. I'm not professional but that's what I see.

Look at my chart below the breakout should be your entry point and SL is below the first candle in 1hr time frame. It's good for 1:2.5 ratio.



You also need to measure on the break before the next resistance if it's enough for 1:2.5 ratio but if its not enough it won't reach your target TP just like what you did according the image above. Better exit immidiately before the next resistance.

I hope you get some idea. Also make sure to learn patterns and structures and learn the breakout strategy. The easier one to learn is the bullish trend breakout and confirmations.

       -      Obviously, there were 3 breakouts according to this chart, first at 0.75$ it went straight to 0.7882$ which at this price there was a rejection which caused the price to fall again to 0.73$ which was a breakout.

Then the support at 0.72$ was broken if I'm not mistaken and if I look at the pattern it looks like the price is still uptrending according to the picture I see.

[BitMaxz]

       -      Obviously, there were 3 breakouts according to this chart, first at 0.75$ it went straight to 0.7882$ which at this price there was a rejection which caused the price to fall again to 0.73$ which was a breakout.

Then the support at 0.72$ was broken if I'm not mistaken and if I look at the pattern it looks like the price is still uptrending according to the picture I see.

The reason why there's a strong rejection on $0.7882 it's because that's a supply area if you mark the previous candle before the aggreasive price drop from previous price action that's a supply area meaning once the price hit that area it would likely be rejected.
And it should be also a good short position look at that after breakout of flag your exit should be in supply area and you can do a 2nd entry as short side on that area and you should make another profit and your exit should be in supply zone not the major one but it should touch on that area around $0.715 it is still good as 1:4 risk ratio with high probably trade because your short entry is from overbought area and the confirmations is the candle stick shows strong rejection plus it's a supply area and it should hit the demand zone. Like on this chart it is already touch the supply zone.